Month: July 2017
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Right of First Refusal Must Be In Writing
The United States District Court for the District of Columbia restated the fundamental principle that in order for a right of first refusal to be enforceable, it must be in writing under the Statute of Frauds. A tenant under a restaurant lease sued its landlord when the latter sold the real property in which the leased premises was located without ... Read More
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Headstrong HOA Board Member Puts Himself in Harm’s Way Over Fair Housing Issues
In a recent case decided by the D.C. Court of Appeals, the court heard a matter involving the intersection between community association governance and fair housing law. In this case, Wilfred Welsh, a board member of the Chaplin Woods Homeowners Association (the “HOA”), sued fellow HOA members Beverly McNeil and Alvin Elliott (the “McNeils”), claiming that the McNeil’s violated the ... Read More
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Charitable Conservation Easements
RP Golf, LLC, lost its appeal and its claim of a $16.4 million charitable tax deduction for its donation of a conservation easement on its two golf courses. On June 26, 2017, the Eighth Circuit affirmed the U.S. Tax Court’s opinion, holding that not all of the detailed requirements for charitable conservation easements had been complied with in a timely ... Read More
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The United States as a Tax Haven for Non-Citizens: QDOT’s to the Rescue
Now that Switzerland and other off-shore locations are not as attractive to those wishing to safeguard their funds, the United States has emerged as a tax haven, of sorts, with several states providing friendly incentives for investors who are not U.S. citizens. However, foreign investors need to be aware of their potential liability for estate taxes. U.S. property owned by ... Read More
TAGGED: qdot, Qualified Domestic Trust